4 Common Challenges Faced by Manufacturers and How to Overcome Them
Breaking into the retail market is a crucial step for manufacturers aiming to widen the reach of their consumer goods. However, it’s a step filled with hurdles and challenges.
Recently our Tactiq team attended the NACS Show, where we talked to many manufacturers who place their products in convenience stores nationwide. At the conference, we heard 6 common pain points manufacturers face when it comes to retail.
If you are a manufacturer, you may identify with a few of these problems and benefit from some of the solutions we provide.
Read more below.
1. Strategic Placement in Key Retailers
Gaining a foothold in key retail locations can be one of the biggest challenges for manufacturers. With limited shelf space and a preference for established products, new and unproven brands struggle to break through.
The key here is ensuring your invoicing process is as appealing as your product. Having a universally accepted payments platform that makes it easy for retailers to onboard your brand can make your product an attractive proposition for retailers.
Your product becomes a lower-risk proposition for retailers, increasing the likelihood of securing that coveted shelf space.
2. Maintaining Control through Third-Party Distribution
Third-party distributors often lack the same level of investment in the growth of your product as you do. While they desire increased sales, the brand owner’s passion for the product can’t be replicated.
Maintaining control over your pricing model is essential. Use tools like Tactiq’s invoicing solution, Invoi, to ensure your pricing strategy remains consistent as your product moves from distributors to retailers.
This approach allows you, as the brand owner, to maintain the integrity of your brand image and its value.
3. Prioritization on Distribution Trucks with Multiple SKUs
Third-party distributors manage multiple SKUs to stay profitable. The less troublesome an item is to distribute and service, the more they prioritize it.
Providing timely and correct invoices through a system like Invoi can reduce pain points at the distribution level, allowing distributors to focus on their service.
4. Optimizing Promo Funding
Manufacturers negotiate promotional funding with retailers and must rely on third-party distributors to adhere to the agreed-upon pricing.
Tools such as Invoi provide brand owners with visibility into the billing process so they can monitor distributor pricing during promotional periods.
With this level of control, manufacturers can invest in promotional activities confidently, knowing that the funds are utilized as intended.
Conclusion
The pathway to retail success for manufacturers can be challenging, but solutions like Invoi help reduce the existing obstacles. With Invoi by Tactiq, these common obstacles transform into opportunities for growth and market expansion. Invoi serves as the guiding light through the complexity of retail distribution, offering the visibility, control, and strategic insights needed not only to compete but also to gain market share.
From helping secure strategic shelf placement to optimizing promotional investments, Invoi provides the clarity and control that can revolutionize your retail strategy. This powerful tool offers a comprehensive solution to the issues discussed, aligning with the real-time needs of manufacturers and enabling them to maintain the integrity and value of their brands through any distribution model.
At Tactiq, we’re not just about identifying problems; we’re about implementing solutions. Invoi is the ally in your corner, the edge you need in a competitive marketplace.
Interested in seeing how Invoi can elevate your retail strategy? Schedule a demo today and take the first step towards reshaping your retail experience with Tactiq.
